Home / News & Media /
When your Proceed to Purchase (PTP) letter arrives, it’s a big moment – you’re ready to start looking for a home. You know your borrowing limit, so the dream becomes real. Now it’s about finding a place where you can feel at home and build your future.
You begin by picturing everyday life rather than only scrolling through listings. Mornings, commutes, school runs, weekend activities – and also access to Community and Elders. Basically, all the things that are important to you and your family. So, your first shortlist of suburbs comes from your diary as much as your budget.
When you do jump online, major portals like realestate.com.au and Domain.com.au can give you lots of helpful information about current prices, auction results, and suburb profiles.
Check the local council website for planning maps and any big projects coming up – like new roads, schools, or shopping centres. These can change how an area feels and what it’s worth over time.
It’s smart to check practical things too – like flood zones or drainage. Also look for easements (parts of land reserved for utilities or access – you usually can’t build over them).
Your conveyancer will search and explain them, but knowing they exist – and roughly where – helps you judge whether a property really fits your plans. A conveyancer is a licensed professional who manages the legal transfer of property ownership, including contract checks, title searches, and settlement coordination.
You also want to consider things like how noisy it is (ie, is it right by a train station or under a flight path?).
You’ll visit shortlisted homes at different times of day, listen to the street, and get a sense of how the place feels. Growth potential matters, but long‑term suitability matters more: a home that supports you to stay connected and thrive.
If this feels like a lot, don’t worry – just take it step by step. Curiosity is your best tool.
Remember, real estate agents work for the seller, not you—so keep your goals front and centre.
It’s helpful to say you’re pre‑approved – it signals you’re serious – but you don’t have to reveal your exact top budget. Many buyers will simply frame conversations around “value for money” and the homes that genuinely fit their needs.
Ask for comparable recent sales in the area and for any available building / pest reports or known easements. If they start putting the pressure on – you can always pause. It’s your decision, so take it at your pace.
Some buyers choose to engage a buyer’s agent (sometimes called a buyer’s advocate) to reduce stress or access off‑market listings. Buyer’s agents charge a fee – ask what’s included and make sure they’re licensed.
Before you fall in love with a property, check the practical stuff.
Check for easements (parts of land reserved for utilities or access) and overlays (extra planning rules like flood or bushfire zones). If the property is in a flood zone, check how that might affect insurance.
A pre‑purchase building & pest inspection comes with a cost. Budget for these early. It is money well spent.
Structural issues, damp, termite activity, or compliance surprises can turn a “dream” into a costly lesson. Organise this promptly and use the report to negotiate or walk away if needed.
When you’re ready to make an offer, it’s not only the price that protects you – it’s the conditions.
Contracts in Australia routinely include “subject to finance” (even with pre‑approval, this guards against a final decline) and “subject to building & pest” (letting you withdraw if serious defects are found).
A holding deposit is usually paid on signing.
In hot markets, time windows can be tight; if you’re confident the agency uses standard, reputable contracts, some buyers proceed while seeking prompt professional review, but independent advice remains best practice.
At auction there’s no cooling‑off period and deposits are due immediately. Do your homework and set a clear limit before you bid. We also strongly recommend you check your state’s auction rules before bidding.
If public bidding makes you nervous, consider a buyer’s agent to bid to a pre‑agreed ceiling on your behalf. If you are very emotionally attached to a place, it might be smart to take a logical person with you.
A good conveyancer makes the legal side simple and stress-free.
Fees vary by state and scope. Always get a written, itemised quote and understand what’s included.
Timing matters: engage them before you sign or bid where possible so they can advise on special conditions, cooling‑off rules (relevant in private sales), and settlement logistics in your state.
Once your contract conditions are satisfied and formal finance approval is issued, you enter the contract and settlement phase. This is where your conveyancer comes in to make sure settlement happens smoothly.
On settlement day, funds move, titles are registered, and you step over the threshold as the new owner.
Your PTP letter is your signal to search with confidence – pair that with independent legal and financial advice before signing anything.
And remember we are always here to help. IBA’s home ownership program exists to walk alongside First Nations customers and support them every step of the way.
Buying a home is part planning and part patience – but mostly life. The market might rush, but you don’t have to. Take your time: visit twice, ask twice, read twice.
The right home will fit your everyday, your community connections, and your long‑term plans.
